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What are the advantages and disadvantages of ACH? Hear what some AP professionals currently making payments electronically via ACH have to say, including on the issue of remittance information, which can be a stumbling block to implementation.

At the beginning of 2015, the Shared Services department at Votorantim Cement North America (VCNA), in Chicago, took a hard look at its processes and staff. “We also examined the morale level in the department and discovered much room for improvement,” says Jessica Carter, Process and Systems Specialist, Shared Services. “It became clear that we were not…

An increasingly popular trend in the payments arena is Purchasing Cards (P-cards). The use of P-cards enables AP to cut down on administrative costs, eliminate paper, and capture lucrative discounts offered by vendors for early invoice payment.

Marjorie Wiater, Disbursements Agent at FedEx Services: Global Disbursements in Moon Township, PA, believes that internal customer service is one of the primary keys to the effectiveness and success of the accounts payable department.

It only takes a minute to perform these operations, and that minute could conceivably save your organization the loss of hundreds if not thousands of dollars. Remember: a determined and alert fraudster could set in motion a major attack while an AP staffer was away from his or her desk “just for a minute.”

Companies that receive “B” Notices from the Internal Revenue Service (IRS) must respond in a timely and appropriate manner to avoid costly penalties. The IRS sends B Notices—technically referred to as CP2100 or CP2100A notices—in the spring and/or fall to payers (companies/organizations) that filed 1099 forms containing errors earlier in the year.

A methodical approval process ensures that AP pays invoices accurately and timely. But developing that process isn’t easy when accounts payable is tasked with providing financial, procurement, administrative, and other support functions to more than 660 dental offices across the United States.